Pan American Lithium Corp. is the Focus of Conservative Speculator Report
September 21 2011 - 8:35AM
Pan American Lithium Corp. (TSX-V:PL) (OTCBB:PALTF) (OTCQB:PALTF)
(www.panamericanlithium.com) (the "Company" or "Pan American"),
announced today that the company is the focus of a recent report in
Larry Oakley's Conservative Speculator financial newsletter.
Following an interview with Pan American President Andrew Brodkey,
Oakley noted that Pan American has rights in eleven lithium and
potash-bearing brine projects in Chile's Atacama Region III
covering cumulatively more than 20,000 hectares. (To see the entire
Oakley report, request a password by email from Oakley at
up415@aol.com.)
In addition, Oakley noted that the company has an option to
acquire an indirect interest in the Cierro Prieto geothermal
lithium brine project in Baja California Norte, Mexico. The Laguna
Verde surface brine lake project is the most advanced of the
Company's portfolio of 11 lithium and potassium bearing brines
projects in Chile.
Oakley also reported that Pan American announced it has closed a
subscription agreement for a private placement with POSCO Canada
Ltd. ("POSCAN"), a Canadian corporation 100% owned by POSCO
(NYSE:PKX), one of the largest steel manufacturers in the world,
with headquarters in the Republic of South Korea. The Company
issued 10,522,090 common shares to POSCAN at the price of C$0.136
per common share, resulting in gross proceeds to the Company of
C$1,431,004. Following the closing of the financing, POSCAN holds
19.87% of the issued & outstanding common shares of Pan
American.
Oakley pointed out that Pan American also announced commencement
of exploration activities at the Llanta, Chile Aquifer Project. In
February 2011, Pan American entered into an agreement with Gareste
Ltda. of Copiapo, Chile that allows the Company to acquire up to an
80% project interest by performing certain exploration programs and
related studies, issuing 900,000 common shares, and making cash
payments totaling $600,000. The Llanta Aquifer Project is located
140 km north of the regional capital of Copiapo, near the town of
Diego del Almagro (Diego), an industrial town with a population of
20,000, with a workforce that is predominately engaged in providing
services related to the mining industry.
Because of its specific heat capacity — the highest of all
solids — lithium is often used in coolants for heat transfer
applications. In the late 20th century, lithium became important as
an anode material. Used in lithium-ion batteries because of its
high electrochemical potential, a typical cell can generate
approximately 3 volts, compared with 2.1 volts for lead/acid or 1.5
volts for zinc-carbon cells. Because of its low atomic mass, it
also has a high charge- and power-to-weight ratio, Pan American
said.
Overall demand for lithium is estimated to be growing
approximately 5% per year with battery demand increasing over 25%
annually. Pan American also has noted that total lithium carbonate
demand is estimated to be approximately 85,000 metric tons/year
(2007) predicted to increase to over 200,000 metric tons per year
by 2015.
On Behalf of the Board,
PAN AMERICAN LITHIUM CORP. /s/ Andrew Brodkey Andrew A. Brodkey
President and CEO
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company. There are numerous risks and
uncertainties that could cause actual results and the Company's
plans and objectives to differ materially from those expressed in
the forward-looking information, including: (i) inability of the
Company to complete its business plan; (ii) a decrease in demand
for and price of lithium or potassium; and (iii) general
uncertainties with respect to mineral exploration in general.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written
and oral forward-looking information are based on estimates and
opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. Except as required by
law, the Company does not intend to update these forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Jodi Henderson
Corporate Secretary
Tel: (520)989-0032
jhenderson@kriyah.com
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